An armed thief made off with at least $8.5 million in jewelry after a daring daylight robbery in Paris Saturday, police said.

Authorities told CNN the thief held people at gunpoint inside the high-end Chopard store before getting away with jewelry estimated to be worth between $8.5 million and $14 million.

"From the first elements we have, it would be a man who's around 50 years old, who was wearing a suit and a Borsalino-style hat, who, like any client, walked inside the jewelry store, held up employees with a handgun, was then given items displayed in the window," police investigator Olivier Lebon told CNN's Paris affiliate BFM-TV.

The store posted a sign after the robbery saying it was closed.